WATERLOO, Iowa — Monte Berg, SVP of finance at Veridian CU here is set to become the next CEO at the credit union.
Berg, who has been with the credit union for 25 years, will take over on May 26,
Berg, a certified public accountant, joined the credit union in 1990 when it was still known as John Deere Community CU. Membership has more than quadrupled in that time, from 40,000 to 186,000, with assets growing from $200 million to $2.6 billion. In that time, capital has increased from 7.53% to 10%, while maintaining an operating expense ratio of 2.68%. The credit union earned $24.6 million in 2014.
Paul Gengler, president of Veridian's board, said in a statement that Berg's leadership and experience will position the credit union well for the future. "He continually focuses on what's best for our members and employees," said Gengler.
Berg credited the credit unions employees and members with helping fuel the institution's success.
"We have an exceptional team and a bright future," he said. "I look forward to working together to fulfill our mission of partnering with our memebrs to create successful financial futures."
